What is Afficiency?
Afficiency operates a comprehensive digital platform designed to streamline the delivery of life insurance products. Catering to digital distributors, the platform facilitates the entire process from initial quote to policy issuance, primarily through API integrations. The company's core mission is to empower consumers to understand and purchase life insurance policies with unprecedented speed and ease, aiming for a completion time of minutes for understanding and less than ten minutes for purchase.
How much funding has Afficiency raised?
Afficiency has raised a total of $10.2M across 2 funding rounds:
Angel/Seed
$3.2M
Series A
$7M
Angel/Seed (2020): $3.2M, investors not publicly disclosed
Series A (2022): $7M led by IA Capital Group
Key Investors in Afficiency
IA Capital Group
IA Capital Group is a New York-based private investment firm focused on venture and growth capital investments within the insurtech and fintech sectors, partnering with innovative entrepreneurs.
What's next for Afficiency?
The recent major strategic investment signifies a pivotal moment for Afficiency, likely enabling the company to accelerate its product development, expand its market reach, and enhance its technological infrastructure. This capital infusion is expected to fuel further innovation in insurtech, solidifying Afficiency's position as a leader in digitalizing the life insurance value chain. Future growth will likely involve deepening partnerships with digital distributors and potentially exploring new product lines or geographic expansions.
See full Afficiency company page
